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Virgin America: New US investors wanted - existing US investors reportedly recall investment


Virgin America’s US-based investors, Cyrus Capital Partners LP and Black Canyon Capital, have reportedly exercised an option to sell their stakes in the carrier, potentially raising concerns regarding the airline’s compliance with US citizenship regulations. Virgin Group has reportedly acquiring the holdings, with no new investors committed to acquiring the stakes in the fledgling US carrier. [1727 words]

Unlock the following content in this report:


  • Challenging time to be seeking replacement investors
  • Ownership concerns re-emerge
  • Cash balance of USD58 million at Dec-2008
  • Losses contract in 4Q08; steady growth of unit revenues and load factors
  • Load factor of above 80% in 4Q08, due to capacity management strategies
  • Remains optimistic about future, despite significant short term challenges
  • Launches service to eighth city: Boston Logan
  • Executive appointment news

Graphs and data:

  • Virgin America cash and cash equivalents (at beginning and end of the quarter): 3Q07 to 4Q08
  • Virgin America financial highlights for three months ended 31-Dec-08
  • Virgin America operating margins: 4Q07 to 4Q08
  • Virgin America fleet: as at Mar-09
  • Virgin America destination map: Mar-2009
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